State Act

The Maharashtra Co-operative Societies Act, 1960

154B-17. Investment of funds.— A society shall invest or deposit its funds in one or more of the following :— (a) in a District Central Co-operative Bank, the State Co-operative Bank, having awarded at least “A” Audit Class in last three consecutive years, if no such Central Co-operative Bank is available in district, then any Nationalised Bank ; (b) in any of the securities specified in section 20 of the Indian Trusts Act, 1882 (2 of 1882); (c) in the shares, or security bonds, or debentures, issued by any other society with limited liability ; (d) in any other mode permitted by the rules, or by general or special order issued in that behalf by the State Government.